Eicher Motors posts record FY26 performance; Royal Enfield crosses 1.2 million sales milestone

Eicher Motors has reported its strongest-ever annual financial performance for FY2025-26, driven by record motorcycle sales from Royal Enfield and robust growth at VE Commercial Vehicles (VECV).

The company posted consolidated revenue from operations of ₹23,408 crore for FY26, marking a 24 per cent year-on-year growth. EBITDA stood at ₹5,785 crore, up 23 per cent, while profit after tax rose 17 per cent to ₹5,515 crore.

For the fourth quarter ended March 31, 2026, Eicher Motors recorded revenue of ₹6,080 crore, registering a 16 per cent increase over the same period last year. EBITDA grew by 20 per cent to ₹1,514 crore, while net profit increased 12 per cent to ₹1,520 crore.

Royal Enfield emerged as the key growth driver for the group, recording its highest-ever annual sales at 1,227,977 motorcycles in FY26, a growth of 22 per cent year-on-year. Domestic sales rose 23 per cent to 1,107,343 units, while exports climbed 20 per cent with 120,634 motorcycles shipped overseas. The brand also achieved its best-ever fourth-quarter sales at 313,811 units.

Speaking about the performance, B. Govindarajan said FY26 had been an exceptional year for both Eicher Motors and Royal Enfield, highlighted by record volumes, strong international momentum and the company’s 125th anniversary celebrations. He also confirmed that Royal Enfield has committed ₹958 crore towards expanding manufacturing capacity at its Cheyyar facility in Tamil Nadu.

The company said the Cheyyar brownfield expansion project will increase Royal Enfield’s annual production capacity from 14.6 lakh units to 20 lakh units to support future growth.

FY26 also marked Royal Enfield’s entry into electric mobility with the launch of the Flying Flea FF.C6 under its new Flying Flea City+ mobility brand. The electric motorcycle was showcased across multiple cities including Delhi, Bengaluru, Mumbai, Hyderabad and London ahead of its India launch. The FF.C6 also won the Red Dot Award 2025 in the ‘Design Concept’ category.

Royal Enfield also used its 125th anniversary celebrations at EICMA 2025 to unveil several new motorcycles including the Classic 650 125th Anniversary Special Edition, Himalayan Mana Black Edition and Bullet 650.

On the commercial vehicle front, VECV reported its highest-ever revenue from operations at ₹27,076.6 crore, reflecting a 15 per cent increase over FY25. EBITDA stood at ₹2,562.6 crore, while profit after tax rose to ₹1,471 crore. Total vehicle sales for the year reached 103,404 units, up 14.7 per cent year-on-year.

B. Srinivas said crossing the 1 lakh annual sales milestone was a significant achievement for VECV and reflected the success of the Volvo-Eicher joint venture. During FY26, the company launched products such as the Eicher Pro X small truck, a 12-metre electric intercity coach, electric tarmac buses and the Volvo FM LNG Road Train for long-haul logistics operations.

The Board of Directors of Eicher Motors has also recommended a final dividend of ₹82 per share for FY26.

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